Increasing hygiene awareness and advanced packaging technologies play a key role in growth of the barrier shrink bags market. Barrier shrink bags reduce chances of package failure and provide extra barriers for moisture, ensuring retention of aroma, and reduction of spoilage. Barrier shrink bags are thus an excellent packaging solution for protecting fresh meats from contamination and spoilage throughout the distribution channel. On the back of these factors, the global barrier shrink bags market is expected to exhibit a CAGR of 5.7% by value, during the forecast period of 2019-2027.
Key Takeaways of Barrier Shrink Bags Market Study
- As per FMI analysis, high barrier films are highly preferred for food packaging, and this segment is expected to create substantial incremental revenue opportunity during 2019-2027, as it ensures tear resistance of the packages and shelf life of the food product without spillage.
- The meat packaging segment is expected to hold a significant share of the barrier shrink bags market. This is attributable high moisture and oxygen barrier provided by these bags that ensures hygiene and longer life of meat products.
- Side sealed bags are expected to gain significant traction, on the back of high aroma barrier and high bi-directional shrinkage quality, which gives good presentation looks to the package.
- Higher thickness of barrier shrink bags provides extra resistance for bacteria and contamination. On the other side low thickness barrier shrink bags are easy to tear and give transparent presentation of the product. End users prefer 50 to 70 Micron thickness bags for food packaging.
- High abuse strength segment is expected to contribute significantly to the growth of the barrier shrink bags market.
- North America is identified the leading market for barrier shrink bags at global level. However, expansion of food industries in Asian countries is expected to offer substantial opportunities for players in the barrier shrink bags market during the forecast period.
“Key players in the global barrier shrink bags market can gain significant profits by focusing on enhancing market presence in untapped and developing countries such as China and India, attributable to expansion of food industries and hygiene awareness in this region,” says an FMI analyst.
Barrier Shrink Bags Market Landscape
Manufacturers of barrier shrink bags face intense competition in the global market. As per FMI research, high growth of the barrier shrink bags market is expected in next ten years, attributable to cost-effectiveness and high performance functionality of barrier shrink bags. Some of the leading manufacturers of barrier shrink bags market are Bemis Company, Inc., Winpak Ltd, Kureha Corporation, Coveris Holdings S.A, Schur Flexibles Group, Sealed Air Corporation, Flavorseal Llc., Flexopack S.A., Globus Group, BUERGOFOL GmbH, and Allfo Vakuumverpackungen Hans Bresele Kg. As per FMI’s market share analysis, Bemis Company, Inc., Sealed Air Corporation, Winpak Ltd, Kureha Corporation, and Coveris Holdings S.A are the top five companies holding an estimated market share of 15-16% in the global barrier shrink bags market.
About Barrier Shrink Bags Market Report
Future Market Insights, in its new report, offers an unbiased analysis of the global barrier shrink bags market, analyzing historical demand from 2014-2018 and forecast statistics for 2019-2027. The study offers growth projections on the barrier shrink bags market on the basis of barrier type (high barrier films, and ultra high barrier films), application (meat {PE, [LDPE and LLDPE], PP, PA, EVOH, PVDC, and Others}, seafood {PE, [LDPE and LLDPE], PP, PA, EVOH, PVDC, and Others}, poultry {PE, [LDPE and LLDPE], PP, PA, EVOH, PVDC, and Others}, cheese & dairy {PE, PA, PP, EVOH, PVDC, and others}, and other food {PE, PP, PA, and others} across seven major regions.
About Packaging Division at Future Market Insights
The Packaging division at FMI provides an in-depth historical analysis and granular projections of the global packaging market. Ranging from packaging materials to designs & formats, FMI has an exhaustive market research database, serving clients with unique offerings and strategic recommendations. With a repository of 750+ reports, the team analyzed the packaging industry comprehensively in 70+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help
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